Louisiana State Employees Retirement System Makes New $954,000 Investment in Mercury Systems, Inc. (NASDAQ:MRCY)

Louisiana State Employees Retirement System purchased a new position in Mercury Systems, Inc. (NASDAQ:MRCY) during the 4th quarter, HoldingsChannel reports. The firm purchased 26,100 shares of the technology company’s stock, valued at approximately $954,000.

Other institutional investors also recently added to or reduced their stakes in the company. Vanguard Group Inc. increased its position in shares of Mercury Systems by 8.3% during the third quarter. Vanguard Group Inc. now owns 5,615,965 shares of the technology company’s stock valued at $208,296,000 after purchasing an additional 429,532 shares during the period. Public Sector Pension Investment Board bought a new stake in shares of Mercury Systems during the third quarter valued at approximately $2,345,000. William Blair Investment Management LLC increased its position in shares of Mercury Systems by 25.6% during the third quarter. William Blair Investment Management LLC now owns 6,749,562 shares of the technology company’s stock valued at $250,341,000 after purchasing an additional 1,376,905 shares during the period. Schonfeld Strategic Advisors LLC increased its position in shares of Mercury Systems by 1,150.7% during the third quarter. Schonfeld Strategic Advisors LLC now owns 292,107 shares of the technology company’s stock valued at $10,834,000 after purchasing an additional 268,752 shares during the period. Finally, VisionPoint Advisory Group LLC increased its position in shares of Mercury Systems by 110.9% during the third quarter. VisionPoint Advisory Group LLC now owns 715 shares of the technology company’s stock valued at $27,000 after purchasing an additional 376 shares during the period. 95.99% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of analysts have recently issued reports on the company. Truist Financial cut Mercury Systems from a “buy” rating to a “hold” rating and lowered their price objective for the company from $48.00 to $28.00 in a research report on Wednesday, February 7th. Jefferies Financial Group lowered Mercury Systems from a “hold” rating to an “underperform” rating and decreased their price target for the company from $35.00 to $30.00 in a research note on Wednesday, January 3rd. Royal Bank of Canada decreased their price target on Mercury Systems from $35.00 to $30.00 and set a “sector perform” rating on the stock in a research note on Wednesday, February 7th. Finally, The Goldman Sachs Group decreased their price target on Mercury Systems from $24.00 to $21.00 and set a “sell” rating on the stock in a research note on Thursday, February 8th. Four investment analysts have rated the stock with a sell rating and four have issued a hold rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $29.88.

Insiders Place Their Bets

In other Mercury Systems news, EVP Stephanie Georges sold 1,409 shares of the business’s stock in a transaction on Friday, February 16th. The stock was sold at an average price of $29.57, for a total value of $41,664.13. Following the transaction, the executive vice president now owns 38,319 shares of the company’s stock, valued at $1,133,092.83. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In other Mercury Systems news, EVP Stephanie Georges sold 1,409 shares of the business’s stock in a transaction on Friday, February 16th. The stock was sold at an average price of $29.57, for a total value of $41,664.13. Following the transaction, the executive vice president now owns 38,319 shares of the company’s stock, valued at $1,133,092.83. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, COO Charles Roger Iv Wells sold 1,696 shares of the business’s stock in a transaction on Friday, February 16th. The stock was sold at an average price of $29.57, for a total value of $50,150.72. Following the sale, the chief operating officer now owns 105,427 shares of the company’s stock, valued at approximately $3,117,476.39. The disclosure for this sale can be found here. Over the last quarter, insiders have acquired 14,133 shares of company stock valued at $398,311 and have sold 3,510 shares valued at $103,685. Insiders own 1.80% of the company’s stock.

Mercury Systems Price Performance

Mercury Systems stock opened at $28.79 on Friday. The company has a debt-to-equity ratio of 0.41, a quick ratio of 2.79 and a current ratio of 4.36. The firm has a market cap of $1.71 billion, a P/E ratio of -19.32 and a beta of 0.70. The business’s fifty day moving average is $28.80 and its two-hundred day moving average is $32.42. Mercury Systems, Inc. has a 52 week low of $25.31 and a 52 week high of $48.00.

Mercury Systems (NASDAQ:MRCY) last posted its quarterly earnings data on Tuesday, February 6th. The technology company reported ($0.58) EPS for the quarter, missing analysts’ consensus estimates of ($0.10) by ($0.48). The business had revenue of $197.46 million during the quarter, compared to analyst estimates of $215.41 million. Mercury Systems had a negative return on equity of 2.62% and a negative net margin of 9.54%. Equities research analysts forecast that Mercury Systems, Inc. will post -1.4 earnings per share for the current fiscal year.

About Mercury Systems

Mercury Systems, Inc, a technology company, manufactures and sells components, products, modules, and subsystems for aerospace and defense industries in the United States, Europe, and the Asia Pacific. Its products and solutions are deployed in approximately 300 programs with 25 defense contractors and commercial aviation customers.